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Sotiris Papantonopoulos-Mantopoulos

Current companyInsurance Market (Money-Market)

CountryGreece

InudstriesFinancial Services

With multiple insurance providers and offers to choose from, determining the right insurance policy can be tiresome, difficult, and costly. Sotiris Papantonopoulos-Mantopoulos and Manolis Marsellos established Money-Market, an online insurance aggregator, to create an easier and more affordable way for Greeks to compare and purchase automobile, motorcycle, boat, and home insurance policies. The online platform aggregates the lowest-priced insurance policies from more than 17 insurance providers in a one-stop shop. Money-Market currently operates the leading online insurance aggregator in Greece’s US$6 billion insurance market, facilitating tens of thousands of active policies.

On the website, customers can compare, select, and purchase individually tailored insurance policies across a range of coverage and premiums. Money-Market also acts as full-service online brokerage partner to insurance companies, answering customer inquiries, underwriting policies and processing applications, and collecting payments. With over 100,000 unique monthly visitors, Money-Market facilitates twice the number of direct sales made by some insurance providers in a year. In addition to reducing customer acquisition costs, the platform increases insurer’s sales by leveraging customer behavior data to attract customers of specific risk levels. To continue to accelerate its growth, Money-Market plans to expand beyond auto insurance into health insurance and pensions.

As it enters and navigates these new industries and products, Money-Market has benefited from Endeavor mentorship. Sotiris and Manolis serve as excellent role models for entrepreneurs in Greece, where they are top innovators in their field. The founders have significant capacity to expand operations while giving back to the entrepreneurial ecosystem in Greece.